I’m neither your mother, your priest, nor Gary Gensler.
I won’t tell you to avoid 50x leverage bets on low-liquidity altcoins on centralized crypto exchanges, because you’re an adult in 2025 and free to gamble as you choose.
However, I have one simple piece of advice, which you can accept or disregard.
(I hope you take it.)
Gamble with your money. Don’t gamble with your future.
If you enjoy speculating on crypto, do so with what you can afford to lose.
Regardless of whether you think it’s CZ tracking down Wintermute (probably not), Binance having technical issues (who can say), or some Trump affiliate shorting the market (who knows), there’s one common factor in every explanation for the epic $20 billion collapse.
Once it starts, there’s nothing you can do about it.
Cascading liquidations can wipe you out if you hold a highly-leveraged long position, often before you even have time to react.
I’ve been in this industry for nearly a decade, and what was true then remains true now.
Leverage is gambling.
And that’s acceptable as long as you approach it with moderation and some awareness.
Casinos can be fun! They’re alluring! They satisfy our natural inclination for risk without needing to hunt saber-toothed tigers.
But would you walk into The Bellagio and bet your house on red?
Would you risk your life savings in front of a dealer with sixteen?
Just because it’s digital, seemingly detached from the flashing lights and ringing slots, and appears to give you control due to research and a thesis… it doesn’t change anything.
What truly matters is playing within your means.
Enjoy yourself. Put a little money into whatever looks appealing.
But don’t wager your life on crypto. There are too many reasons, even now, why the market isn’t stable enough for excessive leverage.
Yesterday was proof of that.
I’ll leave you with some questions.
Should exchanges permit you to risk everything on such a high-stakes gamble? Should they be accountable when their systems fail you? Should your local regulator have established sensible safeguards, instead of neglecting their duty and ignoring the evolution of the financial landscape since Las Vegas was established?
Regardless of these questions, remember that YOU control your future. You have agency; you can determine the level of risk you’re prepared to accept.
And once you’ve considered that risk, take five minutes. Step away from your devices and reflect. Is the risk genuinely worth it? What if your choice doesn’t pan out?
Those five minutes might save the sats you’ve been accumulating for years.
At Cointelegraph, we sincerely hope you’re doing well — financially, emotionally, and physically.
If you made it through this downturn — congratulations.
But learn from this experience. Stay safe. Your future will be much brighter and more enjoyable with your savings intact.
